AWE Puts Stake in $623 Million Indonesian Oil Project Up for Sale

At least according to oil company AWE, which is currently in the process of appointing financial advisers to sell up to 50% of a 600 million Australian dollar (US$623 million) Indonesian oil development.

Sydney-based AWE acquired full control of the Ande Ande Lumut in February and says it could contain 76 million barrels of oil. That compares to the company’s current annual production of roughly 5 million barrels.